Barclays’ chief turns down £2.75m bonus for 2013

4th February 2014

Barclays’ boss Antony Jenkins has decided to decline his bonus for the second year running as a result of regulatory costs and a £6bn fundraising.

In a statement, the bank’s chief executive officer, who was up for a bonus of up to £2.75m, said “it would not be right, in the circumstances”, for him to accept a bonus for 2013, and he has therefore declined the one offered to him by the group’s board.

The CEO however will, according to reports, be given £4m in shares.

Last year Barclays announced plans to partially plug a near £13bn capital hole through a £5.8bn rights issue by June 2014.

Jenkins statement said: “I am aware of the very significant costs which have been required to address legacy litigation and conduct issues in 2013, as well as to exit assets and businesses we no longer wish to participate in.”

He added: “2013 has been a year of considerable positive change for Barclays, and I am particularly proud of the progress we have made in starting to rebuild trust, in defining and implementing a common culture, in repositioning the business for the future, and in significantly improving our balance sheet.”

 

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